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aq <br />(e) Application of sale proceeds. The proceeds of any foreclosure sale shall be <br />applied in the manner, and in the order prescribed by State law, it being agreed that the <br />expenses of any such sale shall include a commission to the Deed of Trust Trustee of five <br />percent of the gross sales price for making such sale and for all services performed under <br />this Agreement. Any proceeds of any such sale remaining after the payment of all <br />Required Payments and the prior application thereof in accordance with State law shall <br />be paid to the County. <br />7.05 Possession of Mortgaged Property. After a foreclosure sale, the County <br />shall immediately lose the right to possess, use and enjoy the Mortgaged Property (but <br />may remain in possession of the Mortgaged Property as a tenant at will of Sellers), and <br />thereupon the County (a) shall pay monthly in advance to Sellers a fair and reasonable <br />rental value for the use and occupation of the Mortgaged Property (in an amount Sellers <br />shall determine in its reasonable ,judgment), and (b) upon Sellers' demand, shall deliver <br />possession of the Mortgaged Property to Sellers or, at Sellers' direction, to the purchaser <br />of the Mortgaged Property at any,judicial or foreclosure sale under this Agreement. <br />7.06. No Remedy Exclusive; Delay Not Waiver. All remedies under this <br />Agreement are cumulative and may be exercised concurrently or separately. The <br />exercise of any one remedy shall not be deemed an election of such remedy or preclude <br />the exercise of any other remedy. If any Event of Default shall occur and thereafter be <br />waived by the other parties, such waiver shall be limited to the particular breach so <br />waived and shall not be deemed a waiver of any other breach under this Agreement. <br />ARTICLE VIII <br />MISCELLANEOUS <br />8.01. Notices. (a) Any communication required or permitted by this Agreement <br />must be in writing. <br />(b) Any communication under this Agreement shall be sufficiently given and <br />deemed given when delivered by hand or five days after being mailed by first-class mail, <br />postage prepaid, addressed as follows: <br />(i) if to the County, to the attention o£ County Manager, Re: Notice <br />under 2006 Financing Agreement for Meadowlands Building Acquisition, <br />Post Office Box 8181, Hillsborough, NC 27278; <br />(ii) if to the Deed of Trust Trustee, to ; or <br />if to Sellers, to <br />13 <br />finagreemttweeter